- Jul 6, 2010
- Reaction score
- Political Leaning
Eliyahu Weinstein is suspected of bogus real estate deals with Jewish clients in U.S., London, and Israel.
FBI arrests 'next Madoff' over alleged $300 million Ponzi scheme - Haaretz Daily Newspaper | Israel NewsAmerican business developer Eliyahu Weinstein was arrested Thursday for allegedly stealing tens of millions of dollars from investors as part of a Ponzi scheme, according to U.S. news reports.Weinstein, 35, an Orthodox Jew from Lakewood, New Jersey, is suspected of bilking Orthodox investors in the U.S., London, and Israel out of more than $300 million through fake real estate deals, selling the same property to several investors. The former car salesman is suspected by the FBI of taking advantage of his connections with the Haredi and Jewish communities in New York, New Jersey, Florida, and California to persuade wealthy clients to invest in bogus real estate deals